Russell Simmons and Kimora Lee Set for High-Stakes Trial Over Million-Dollar Celsius Stocks.
A long-running legal battle between music mogul Russell Simmons, 67, and his ex-wife Kimora Lee Simmons, 49, along with her former partner, Tim Leissner is headed to trial, scheduled for January 2, 2026, with both parties set to face off in a courtroom showdown over millions of dollars worth of stocks in the energy drink brand Celsius.
Russell Simmons and Kimora Lee Simmons Photo: Gregory Pace/BEI/Shutterstock
After years of legal drama, Russell Simmons and ex-wife Kimora Lee Simmons are set to face off in court over millions in Celsius stock. The trial, scheduled for January 2, 2026, will also involve Kimora’s former partner, Tim Leissner, in a case drawing attention from both business and entertainment circles.
The Dispute: Who Owns the Stocks?
At the heart of the case is a dispute over ownership of valuable Celsius Holdings, Inc. shares tied to the company Nu Horizons, which was founded by Simmons in 2011. Though the former couple divorced in 2009, their financial entanglements remained complicated, especially after Kimora married Tim Leissner in 2014.
Nu Horizons, where Simmons was the sole member and manager until 2018, is alleged to have invested tens of millions into Celsius stock in 2016. Simmons claims that Kimora and Leissner, knowing they would soon face serious legal troubles, colluded to use these shares as collateral in Leissner’s criminal case. Leissner, a former Goldman Sachs banker, was at the center of a massive international scandal involving the 1MDB fund, which the U.S. government described as a multibillion-dollar bribery and money-laundering operation. Leissner pleaded guilty to charges related to money laundering and agreed to forfeit millions in assets, including stock holdings.
Simmons’ lawsuit, filed in 2021, accuses Kimora and Tim of “fraudulent concealment,” breach of contract, and more. The lawsuit also claims that the duo used the Celsius stock without his permission to secure a bond in Leissner’s criminal case. In response, Kimora has denied these claims, asserting that Simmons had stepped down from his managerial role at Nu Horizons in January 2018, and therefore had no ownership or claim to the Celsius shares used in the bond.
Kimora Lee Simmons kids Photo: Jesse Grant/Getty
Tim Leissner's Role and Legal Troubles
Leissner, who was once an investment banker at Goldman Sachs, has been embroiled in the 1MDB scandal that rocked global finance. The scandal allegedly involved billions of dollars siphoned from Malaysia’s state-run investment fund, and Leissner’s role in it has left lasting implications for his personal and professional life. He has already forfeited $43 million and $200 million in stocks as part of his settlement.
Despite the legal troubles, Leissner is adamant that no wrongdoing occurred in his dealings with Kimora and Simmons. He has requested that Simmons be denied any claims in the case, firmly rejecting the idea that he or Kimora acted improperly with regard to the Celsius stock.
A Tangled Web of Relationships and Legal Claims
The legal battle took on a personal dimension as well, with both Simmons and Kimora publicly discussing their relationship dynamics. Despite their 2009 divorce, the two have maintained a close relationship, and Simmons has admitted to growing fond of Leissner over the years. However, their bond has soured amid the current legal dispute, with Simmons accusing Kimora and Leissner of conspiring to conceal their actions from him.
Kimora has been insistent that she had no intention of deceiving her ex-husband, pointing to the fact that Simmons had been removed from Nu Horizons years before any of the financial dealings in question. In court documents, she has also pointed out that the stock in dispute was never his to claim, arguing that Simmons had no ownership stake in the Celsius shares.
The legal wrangling has not been limited to just the stock ownership; tensions have risen over the production of evidence, including text messages exchanged between Kimora and Leissner. Russell’s legal team has requested access to these messages, believing they may shed light on the alleged collusion. Tim’s attorney has dismissed these claims, stating that Kimora is only required to turn over messages relevant to the case, excluding those exclusively between her and Tim.
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